Murph, I think in the U.S. it is common for the contractor to "own" the property and materials, until the money is transfered for the purchase... Only after the money is transfered does the homeowner actually "own" anything..... This is the normal way to buy a new house in the U.S. from my understanding....
But, if the home owner bought the land separate of the house deal, then you would own the the property like in your case. But i get the feeling that not many people at all go this route in the U.S.
